Request for Information Regarding Consumer Credit Card Market, 647-649 [2019-00487]
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Federal Register / Vol. 84, No. 21 / Thursday, January 31, 2019 / Notices
manner that ensures that the
confidentiality of the reporting entities
is preserved. AMS is in the best position
to provide this service.
Since the last information collection
renewal, the AMS Livestock, Poultry,
and Seed Program reorganized to form
the AMS Livestock and Poultry
Program. The forms associated with this
information collection reflect this
organizational change.
Estimate of Burden: Public reporting
burden for this collection is estimated to
average 0.16 hours per response.
Respondents: Business or other forprofit entities, individuals or
households, farms, and the Federal
Government.
Estimated Number of Respondents:
116 respondents.
Estimated Number of Responses:
135,356 responses.
Estimated Number of Responses per
Respondent: 1,167 responses (rounded).
Estimated Total Annual Burden on
Respondents: 21,712 hours (rounded).
Comments are invited on: (1) Whether
the proposed collection of information
is necessary for the proper performance
of the functions of the agency, including
whether the information will have
practical utility; (2) the accuracy of the
agency’s estimate of the burden of the
proposed collection of information
including the validity of the
methodology and assumptions used; (3)
ways to enhance the quality, utility, and
clarity of the information to be
collected; and (4) ways to minimize the
burden of the collection of information
on those who are to respond, including
the use of appropriate automated,
electronic, mechanical, or other
technological collection techniques or
other forms of information technology.
All responses to this document will be
summarized and included in the request
for OMB approval. All comments will
become a matter of public record.
Dated: January 26, 2019.
Bruce Summers,
Administrator, Agricultural Marketing
Service.
[FR Doc. 2019–00548 Filed 1–30–19; 8:45 am]
BILLING CODE 3410–02–P
DEPARTMENT OF COMMERCE
amozie on DSK3GDR082PROD with NOTICES1
U.S. Census Bureau
[OMB Control Number: 0607–1007]
Proposed Change to Existing
Approved Collection; Comment
Request; 2020 Census New
Construction Program; Expiration
Date: 12-31-2021
AGENCY:
U.S. Census Bureau.
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Jkt 247001
ACTION:
Notice of schedule change.
This document constitutes a
notice of intent to provide a 30-day
comment period on schedule changes to
the approved information collection for
the 2020 Census New Construction
Program. The Department of Commerce,
as part of its continuing effort to reduce
paperwork and respondent burden,
invites the general public and other
Federal agencies to take this
opportunity to comment on proposed
and/or continuing information
collections, as required by the
Paperwork Reduction Act of 1995.
SUPPLEMENTARY INFORMATION: The U.S.
Census Bureau is issuing this notice to
inform the public of two schedule
changes associated with the notice for
public comment, titled ‘‘2020 Census
New Construction Program,’’ published
in the Federal Register on October 5,
2018 (Vol. 83, No. 194, pp. 50332–
50334).
The following highlights the proposed
revisions and the reasons:
1. Publication of the list of
governments eligible for participation in
the New Construction Program by fall
2018 (p. 50333): The Census Bureau will
publish the list of governments eligible
for participation in the New
Construction Program in early 2019,
instead of fall 2018. The Census Bureau
made the change to conduct additional
quality control prior to publishing the
list. This change does not affect the
respondents who are eligible to
participate in the New Construction
Program.
2. Registration Deadline—Invitation
Phase (p. 50334): The Census Bureau is
rescheduling the registration deadline
from what was previously stated in the
Federal Register on October 5, 2018
(Vol. 83, No. 194, pp. 50332–50334).
The registration deadline was moved
from July 19, 2019 to June 14, 2019 to
provide the Census Bureau adequate
time to conduct quality control of the
registered universe and to prepare
materials prior to the participation
phase in September 2019. During the
first week of April 2019, the Census
Bureau will invite respondents to
register online or by mail, with
registration responses due by June 14,
2019. Given the average response time
per respondent of one hour for the
invitation phase, the proposed change is
not anticipated to have an impact on a
respondent’s ability to reply during the
proposed time frame.
There are no other proposed changes
to the 2020 Census New Construction
Program.
This information collection request
may be viewed at www.reginfo.gov.
SUMMARY:
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647
Follow the instructions to view
Department of Commerce collections
currently under review by OMB.
Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to OIRA_Submission@
omb.eop.gov or fax to (202) 395–5806.
Sheleen Dumas,
Departmental PRA Lead Officer, Office of the
Chief Information Officer, Department of
Commerce.
[FR Doc. 2019–00524 Filed 1–30–19; 8:45 am]
BILLING CODE 3510–07–P
BUREAU OF CONSUMER FINANCIAL
PROTECTION
[Docket No. CFPB–2019–0002]
Request for Information Regarding
Consumer Credit Card Market
Bureau of Consumer Financial
Protection.
ACTION: Notice and request for
information.
AGENCY:
The Credit Card
Accountability Responsibility and
Disclosure Act of 2009 (CARD Act or
Act) requires the Bureau of Consumer
Financial Protection (Bureau) to
conduct a review (Review) of the
consumer credit card market, within the
limits of its existing resources available
for reporting purposes. In connection
with conducting that Review, and in
accordance with the Act, the Bureau is
soliciting information from the public
about a number of aspects of the
consumer credit card market as
described further below.
DATES: Comments must be submitted on
or before May 1, 2019 to be assured of
consideration.
ADDRESSES: You may submit responsive
information and other comments,
identified by the document title and
Docket No. CFPB–2019–0002, by any of
the following methods:
• Federal eRulemaking Portal: https://
www.regulations.gov. Follow the
instructions for submitting comments.
• Email: FederalRegisterComments@
cfpb.gov. Include the document title and
Docket No. CFPB–2019–0002 in the
subject line of the message.
• Mail: Comment Intake, Bureau of
Consumer Financial Protection, 1700 G
Street NW, Washington, DC 20552.
• Hand Delivery/Courier: Comment
Intake, Bureau of Consumer Financial
Protection, 1700 G Street NW,
Washington, DC 20552.
Instructions: All submissions should
include the agency name and docket
SUMMARY:
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648
Federal Register / Vol. 84, No. 21 / Thursday, January 31, 2019 / Notices
number for this proposal. Because paper
mail in the Washington, DC area and at
the Bureau is subject to delay,
commenters are encouraged to submit
comments electronically. In general, all
comments received will be posted
without change to https://
www.regulations.gov. In addition,
comments will be available for public
inspection and copying at 1700 G Street
NW, Washington, DC 20552, on official
business days between the hours of 10
a.m. and 5 p.m. Eastern Time. You can
make an appointment to inspect the
documents by telephoning (202) 435–
7275.
All comments, including attachments
and other supporting materials, will
become part of the public record and
subject to public disclosure. Sensitive
personal information, such as account
numbers or Social Security numbers,
should not be included. Comments
generally will not be edited to remove
any identifying or contact information.
FOR FURTHER INFORMATION CONTACT: Wei
Zhang, Credit Card Program Manager,
Division of Research, Markets, and
Regulations, at (202) 435–7700, or
wei.zhang@cfpb.gov. If you require this
document in an alternative electronic
format, please contact CFPB_
Accessibility@cfpb.gov.
Authority: 15 U.S.C. 1616(a), (b).
Section
502(a) of the CARD Act 1 requires the
Bureau to conduct a review, within the
limits of its existing resources available
for reporting purposes, of the consumer
credit card market every two years. To
inform that review, section 502(b)
instructs the Bureau to seek public
comment.2
The Bureau’s first such review was
published in October 2013; the Bureau’s
second such review was published in
December 2015; the Bureau’s third such
review was published in December
2017.3 To inform the Bureau’s next
review, the Bureau hereby invites
members of the public, including
consumers, credit card issuers, industry
analysts, consumer groups, and other
interested persons to submit
information and other comments
relevant to the issues expressly
identified in section 2 below, as well as
SUPPLEMENTARY INFORMATION:
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1 See
15 U.S.C. 1616(a).
15 U.S.C. 1616(b).
3 CARD Act Report, available at https://
files.consumerfinance.gov/f/201309_cfpb_card-actreport.pdf; The Consumer Credit Card Market,
available at https://files.consumerfinance.gov/f/
201512_cfpb_report-the-consumer-credit-cardmarket.pdf; The Consumer Credit Card Market,
available at https://files.consumerfinance.gov/f/
documents/cfpb_consumer-credit-card-marketreport_2017.pdf.
2 See
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20:21 Jan 30, 2019
Jkt 247001
any information they believe is relevant
to a review of the credit card market.
1. Background: The CARD Act
The CARD Act was signed into law in
May 2009.4 Passage of the Act was
expressly intended to ‘‘establish fair and
transparent practices related to the
extension of credit’’ in the credit card
market.5 To achieve these agreed-upon
purposes, the Act changed the
requirements applicable to credit card
practices in a number of significant
respects.6
2. Issues on Which the Bureau Seeks
Public Comment for Its Review
In connection with its pending
Review, the Bureau seeks information
from members of the public about how
the credit card market is functioning.
The Bureau seeks comments on the
experiences of consumers and providers
in the credit card market and on the
overall health of the credit card market,
as outlined in section 502(a) and in (a)
through (g) below. As noted above,
while the Bureau identifies specific
topics of interest below, the Bureau
wants to be alerted to and understand
the information that consumers, credit
card issuers, industry analysts,
consumer groups, and other interested
persons believe is most relevant to the
Bureau’s review of the credit card
market, so this list of subjects should
not be viewed as exhaustive.
Commenters are encouraged to address
any other aspects of the consumer credit
card market that they consider would be
of interest or concern to the Bureau.
Please feel free to comment generally
and/or respond to any or all of the
questions below but please indicate in
your comments on which topic areas or
questions you are commenting:
(a) The Terms of Credit Card
Agreements and the Practices of Credit
Card Issuers
How have the substantive terms and
conditions of credit card agreements or
the length and complexity of such
agreements changed over the past two
years?
How have issuers changed their
pricing, marketing, underwriting, or
other practices?
How are the terms of, and practices
related to, major supplementary credit
card features (such as credit card
rewards, deferred interest promotions,
4 The CARD Act’s provisions took effect in three
stages: August 2009, February 2010, and October
2011.
5 Public Law 111–24, 123 Stat. 1734 (2009).
6 See CARD Act Report, pp. 10–13, available at
https://files.consumerfinance.gov/f/201309_cfpb_
card-act-report.pdf.
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Sfmt 4703
balances transfers, and cash advances)
evolving?
How have practices related to
collecting on delinquent and charged-off
credit card debt changed over the past
two years?
Has the use of electronic
communication (e.g., email or SMS) by
creditors and debt collectors in
connection with credit card debt grown
or otherwise evolved?
How are the practices of for-profit
debt settlement companies changing
and what trends are occurring in the
debt settlement industry? How are
creditors and non-profit credit
counseling agencies responding to these
changes and trends?
(b) The Effectiveness of Disclosure of
Terms, Fees, and Other Expenses of
Credit Card Plans
How effective are current disclosures
of rates, fees, and other cost terms of
credit card accounts in conveying to
consumers the costs of credit card
plans?
What further improvements in
disclosure, if any, would benefit
consumers and what costs would card
issuers or others incur in providing such
disclosures?
How well are current credit card
disclosure rules and practices adapted
to the digital environment? What
adaptations to credit card disclosure
regimes in the digital environment
would better serve consumers or reduce
industry compliance burden?
(c) The Adequacy of Protections Against
Unfair or Deceptive Acts or Practices
Relating to Credit Card Plans
What unfair, deceptive, or abusive
acts and practices exist in the credit
card market? How prevalent are these
acts and practices and what effect do
they have? How might any such conduct
be prevented and at what cost?
(d) The Cost and Availability of
Consumer Credit Cards
How have the cost and availability of
consumer credit cards (including with
respect to non-prime borrowers)
changed since the Bureau reported on
the credit card market in 2017? What is
responsible for changes (or absence of
changes) in cost and availability? Has
the impact of the CARD Act on cost and
availability changed over the past two
years?
How, if at all, are the characteristics
of consumers with lower credit scores
changing? How are groups of consumers
in different score tiers faring in the
market? How do other factors relating to
consumer demographics or financial
E:\FR\FM\31JAN1.SGM
31JAN1
Federal Register / Vol. 84, No. 21 / Thursday, January 31, 2019 / Notices
lives affect consumers’ ability to
successfully obtain and use card credit?
BUREAU OF CONSUMER FINANCIAL
PROTECTION
(e) The Safety and Soundness of Credit
Card Issuers
[Docket No. CFPB–2017–0025]
How is the credit cycle evolving?
What, if any, safety and soundness risks
are present or growing in this market,
and which entities are
disproportionately affected by these
risks? How, if at all, do these safety and
soundness risks to entities relate to
long-term indebtedness on the part of
some consumers, or changes in
consumers’ ability to manage their
debts? Has the impact of the CARD Act
on safety and soundness changed over
the past two years?
(f) The Use of Risk-Based Pricing for
Consumer Credit Cards
How has the use of risk-based pricing
for consumer credit cards changed since
the Bureau reported on the credit card
market in 2017? What has driven those
changes or lack of changes? Has the
impact of the CARD Act on risk-based
pricing changed over the past two years?
How have CARD Act provisions
relating to risk-based pricing impacted
(positively or negatively) the evolution
of practices in this market?
(g) Consumer Credit Card Product
Innovation
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How has credit card product
innovation changed since the Bureau
reported on the credit card market in
2017? What has driven those changes or
lack of changes? Has the impact of the
CARD Act on product innovation
changed over the past two years?
How have broader innovations in
finance, such as (but not limited to) new
products and entrants, evolving digital
tools, greater availability of and new
applications for consumer data, and
new technological tools (like machine
learning), impacted the consumer credit
card market, either directly or
indirectly? In what ways do CARD Act
provisions encourage or discourage
innovation? In what ways do
innovations increase or decrease the
impact of certain CARD Act provisions,
or change the nature of those impacts?
Dated: December 21, 2018.
Kathleen Kraninger,
Director, Bureau of Consumer Financial
Protection.
[FR Doc. 2019–00487 Filed 1–30–19; 8:45 am]
BILLING CODE 4810–AM–P
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Disclosure of Loan-Level HMDA Data
Bureau of Consumer Financial
Protection.
ACTION: Final policy guidance.
AGENCY:
The Bureau of Consumer
Financial Protection (Bureau) is issuing
final policy guidance describing
modifications that the Bureau intends to
apply to the loan-level data that
financial institutions report under the
Home Mortgage Disclosure Act (HMDA)
and Regulation C before the data is
disclosed to the public. This final policy
guidance applies to HMDA data
compiled by financial institutions in or
after 2018 and made available to the
public by the Bureau beginning in 2019.
DATES: The Bureau released this final
policy guidance on its website on
December 21, 2018.
FOR FURTHER INFORMATION CONTACT:
Benjamin Cady and David Jacobs,
Counsels; Laura Stack, Senior Counsel,
Office of Regulations, at 202–435–7700
or https://
reginquiries.consumerfinance.gov/. If
you require this document in an
alternative electronic format, please
contact CFPB_Accessibility@cfpb.gov.
SUPPLEMENTARY INFORMATION:
SUMMARY:
I. Summary
HMDA requires certain financial
institutions to collect, report, and
disclose data about their mortgage
lending activity. HMDA is implemented
by Regulation C, 12 CFR part 1003. In
2010, the Dodd-Frank Wall Street
Reform and Consumer Protection Act
(Dodd-Frank Act) amended HMDA and
transferred HMDA rulemaking authority
and other functions from the Board of
Governors of the Federal Reserve
System (Board) to the Bureau. Among
other changes, the Dodd-Frank Act
expanded the scope of information
relating to mortgage applications and
loans that must be collected, reported,
and disclosed under HMDA and
authorized the Bureau to require by rule
financial institutions to collect, report,
and disclose additional information. In
2015, the Bureau published a final rule
amending Regulation C (2015 HMDA
Final Rule) to implement the DoddFrank Act amendments to HMDA and
make other changes, including adding a
number of new data points. Most
provisions of the 2015 HMDA Final
Rule took effect on January 1, 2018, and
apply to data financial institutions
collect beginning in 2018 and report
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649
beginning in 2019. With respect to the
public disclosure of HMDA data, the
Bureau interpreted HMDA, as amended
by the Dodd-Frank Act, to require that
the Bureau use a balancing test to
determine whether and how HMDA
data should be modified prior to its
disclosure to protect applicant and
borrower privacy while also fulfilling
HMDA’s public disclosure purposes. On
September 25, 2017, the Bureau
published proposed policy guidance
that described the Bureau’s balancing
test and how the Bureau proposed to
apply it to the loan-level HMDA data
made available to the public.1
After considering the comments the
Bureau received on the proposal, the
Bureau is publishing this final policy
guidance describing the loan-level
HMDA data it intends to make available
to the public, including modifications to
be applied to the data. The Bureau
intends to make these modifications to
data financial institutions collected in
2018 when the Bureau discloses that
data in 2019. The Bureau is making
these determinations based upon the
information currently available to it,
including the comments received on the
proposal, with respect to the risks and
benefits associated with the disclosure
of loan-level HMDA data. The Bureau
intends to commence a rulemaking in
the spring of 2019 that will enable it to
identify more definitively modifications
to the data that the Bureau determines
to be appropriate under the balancing
test and incorporate these modifications
into a legislative rule. The rulemaking
will reconsider the determinations
reflected in this final policy guidance
based upon the Bureau’s experience
administering the final policy guidance
in 2019 and on a new rulemaking
record, including data concerning the
privacy risks posed by the disclosure of
the HMDA data and the benefits of such
disclosure in light of HMDA’s purposes.
In developing this final policy
guidance, the Bureau consulted with the
prudential regulators (the Board, the
Federal Deposit Insurance Corporation
(FDIC), the National Credit Union
Administration (NCUA), and the Office
of the Comptroller of the Currency
(OCC)); the Department of Housing and
Urban Development (HUD); and the
Federal Housing Finance Agency
(FHFA).
For the reasons described below and
in the proposed policy guidance,2 the
Bureau is modifying its proposed policy
guidance to change the proposed
1 Disclosure of Loan-Level HMDA Data, 82 FR
44586 (Sept. 25, 2017) (hereinafter Proposed Policy
Guidance).
2 See id. at 44596–44610.
E:\FR\FM\31JAN1.SGM
31JAN1
Agencies
[Federal Register Volume 84, Number 21 (Thursday, January 31, 2019)]
[Notices]
[Pages 647-649]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-00487]
=======================================================================
-----------------------------------------------------------------------
BUREAU OF CONSUMER FINANCIAL PROTECTION
[Docket No. CFPB-2019-0002]
Request for Information Regarding Consumer Credit Card Market
AGENCY: Bureau of Consumer Financial Protection.
ACTION: Notice and request for information.
-----------------------------------------------------------------------
SUMMARY: The Credit Card Accountability Responsibility and Disclosure
Act of 2009 (CARD Act or Act) requires the Bureau of Consumer Financial
Protection (Bureau) to conduct a review (Review) of the consumer credit
card market, within the limits of its existing resources available for
reporting purposes. In connection with conducting that Review, and in
accordance with the Act, the Bureau is soliciting information from the
public about a number of aspects of the consumer credit card market as
described further below.
DATES: Comments must be submitted on or before May 1, 2019 to be
assured of consideration.
ADDRESSES: You may submit responsive information and other comments,
identified by the document title and Docket No. CFPB-2019-0002, by any
of the following methods:
Federal eRulemaking Portal: https://www.regulations.gov.
Follow the instructions for submitting comments.
Email: FederalRegisterComments@cfpb.gov. Include the
document title and Docket No. CFPB-2019-0002 in the subject line of the
message.
Mail: Comment Intake, Bureau of Consumer Financial
Protection, 1700 G Street NW, Washington, DC 20552.
Hand Delivery/Courier: Comment Intake, Bureau of Consumer
Financial Protection, 1700 G Street NW, Washington, DC 20552.
Instructions: All submissions should include the agency name and
docket
[[Page 648]]
number for this proposal. Because paper mail in the Washington, DC area
and at the Bureau is subject to delay, commenters are encouraged to
submit comments electronically. In general, all comments received will
be posted without change to https://www.regulations.gov. In addition,
comments will be available for public inspection and copying at 1700 G
Street NW, Washington, DC 20552, on official business days between the
hours of 10 a.m. and 5 p.m. Eastern Time. You can make an appointment
to inspect the documents by telephoning (202) 435-7275.
All comments, including attachments and other supporting materials,
will become part of the public record and subject to public disclosure.
Sensitive personal information, such as account numbers or Social
Security numbers, should not be included. Comments generally will not
be edited to remove any identifying or contact information.
FOR FURTHER INFORMATION CONTACT: Wei Zhang, Credit Card Program
Manager, Division of Research, Markets, and Regulations, at (202) 435-
7700, or wei.zhang@cfpb.gov. If you require this document in an
alternative electronic format, please contact
CFPB_Accessibility@cfpb.gov.
Authority: 15 U.S.C. 1616(a), (b).
SUPPLEMENTARY INFORMATION: Section 502(a) of the CARD Act \1\ requires
the Bureau to conduct a review, within the limits of its existing
resources available for reporting purposes, of the consumer credit card
market every two years. To inform that review, section 502(b) instructs
the Bureau to seek public comment.\2\
---------------------------------------------------------------------------
\1\ See 15 U.S.C. 1616(a).
\2\ See 15 U.S.C. 1616(b).
---------------------------------------------------------------------------
The Bureau's first such review was published in October 2013; the
Bureau's second such review was published in December 2015; the
Bureau's third such review was published in December 2017.\3\ To inform
the Bureau's next review, the Bureau hereby invites members of the
public, including consumers, credit card issuers, industry analysts,
consumer groups, and other interested persons to submit information and
other comments relevant to the issues expressly identified in section 2
below, as well as any information they believe is relevant to a review
of the credit card market.
---------------------------------------------------------------------------
\3\ CARD Act Report, available at https://files.consumerfinance.gov/f/201309_cfpb_card-act-report.pdf; The
Consumer Credit Card Market, available at https://files.consumerfinance.gov/f/201512_cfpb_report-the-consumer-credit-card-market.pdf; The Consumer Credit Card Market, available at
https://files.consumerfinance.gov/f/documents/cfpb_consumer-credit-card-market-report_2017.pdf.
---------------------------------------------------------------------------
1. Background: The CARD Act
The CARD Act was signed into law in May 2009.\4\ Passage of the Act
was expressly intended to ``establish fair and transparent practices
related to the extension of credit'' in the credit card market.\5\ To
achieve these agreed-upon purposes, the Act changed the requirements
applicable to credit card practices in a number of significant
respects.\6\
---------------------------------------------------------------------------
\4\ The CARD Act's provisions took effect in three stages:
August 2009, February 2010, and October 2011.
\5\ Public Law 111-24, 123 Stat. 1734 (2009).
\6\ See CARD Act Report, pp. 10-13, available at https://files.consumerfinance.gov/f/201309_cfpb_card-act-report.pdf.
---------------------------------------------------------------------------
2. Issues on Which the Bureau Seeks Public Comment for Its Review
In connection with its pending Review, the Bureau seeks information
from members of the public about how the credit card market is
functioning. The Bureau seeks comments on the experiences of consumers
and providers in the credit card market and on the overall health of
the credit card market, as outlined in section 502(a) and in (a)
through (g) below. As noted above, while the Bureau identifies specific
topics of interest below, the Bureau wants to be alerted to and
understand the information that consumers, credit card issuers,
industry analysts, consumer groups, and other interested persons
believe is most relevant to the Bureau's review of the credit card
market, so this list of subjects should not be viewed as exhaustive.
Commenters are encouraged to address any other aspects of the consumer
credit card market that they consider would be of interest or concern
to the Bureau.
Please feel free to comment generally and/or respond to any or all
of the questions below but please indicate in your comments on which
topic areas or questions you are commenting:
(a) The Terms of Credit Card Agreements and the Practices of Credit
Card Issuers
How have the substantive terms and conditions of credit card
agreements or the length and complexity of such agreements changed over
the past two years?
How have issuers changed their pricing, marketing, underwriting, or
other practices?
How are the terms of, and practices related to, major supplementary
credit card features (such as credit card rewards, deferred interest
promotions, balances transfers, and cash advances) evolving?
How have practices related to collecting on delinquent and charged-
off credit card debt changed over the past two years?
Has the use of electronic communication (e.g., email or SMS) by
creditors and debt collectors in connection with credit card debt grown
or otherwise evolved?
How are the practices of for-profit debt settlement companies
changing and what trends are occurring in the debt settlement industry?
How are creditors and non-profit credit counseling agencies responding
to these changes and trends?
(b) The Effectiveness of Disclosure of Terms, Fees, and Other Expenses
of Credit Card Plans
How effective are current disclosures of rates, fees, and other
cost terms of credit card accounts in conveying to consumers the costs
of credit card plans?
What further improvements in disclosure, if any, would benefit
consumers and what costs would card issuers or others incur in
providing such disclosures?
How well are current credit card disclosure rules and practices
adapted to the digital environment? What adaptations to credit card
disclosure regimes in the digital environment would better serve
consumers or reduce industry compliance burden?
(c) The Adequacy of Protections Against Unfair or Deceptive Acts or
Practices Relating to Credit Card Plans
What unfair, deceptive, or abusive acts and practices exist in the
credit card market? How prevalent are these acts and practices and what
effect do they have? How might any such conduct be prevented and at
what cost?
(d) The Cost and Availability of Consumer Credit Cards
How have the cost and availability of consumer credit cards
(including with respect to non-prime borrowers) changed since the
Bureau reported on the credit card market in 2017? What is responsible
for changes (or absence of changes) in cost and availability? Has the
impact of the CARD Act on cost and availability changed over the past
two years?
How, if at all, are the characteristics of consumers with lower
credit scores changing? How are groups of consumers in different score
tiers faring in the market? How do other factors relating to consumer
demographics or financial
[[Page 649]]
lives affect consumers' ability to successfully obtain and use card
credit?
(e) The Safety and Soundness of Credit Card Issuers
How is the credit cycle evolving? What, if any, safety and
soundness risks are present or growing in this market, and which
entities are disproportionately affected by these risks? How, if at
all, do these safety and soundness risks to entities relate to long-
term indebtedness on the part of some consumers, or changes in
consumers' ability to manage their debts? Has the impact of the CARD
Act on safety and soundness changed over the past two years?
(f) The Use of Risk-Based Pricing for Consumer Credit Cards
How has the use of risk-based pricing for consumer credit cards
changed since the Bureau reported on the credit card market in 2017?
What has driven those changes or lack of changes? Has the impact of the
CARD Act on risk-based pricing changed over the past two years?
How have CARD Act provisions relating to risk-based pricing
impacted (positively or negatively) the evolution of practices in this
market?
(g) Consumer Credit Card Product Innovation
How has credit card product innovation changed since the Bureau
reported on the credit card market in 2017? What has driven those
changes or lack of changes? Has the impact of the CARD Act on product
innovation changed over the past two years?
How have broader innovations in finance, such as (but not limited
to) new products and entrants, evolving digital tools, greater
availability of and new applications for consumer data, and new
technological tools (like machine learning), impacted the consumer
credit card market, either directly or indirectly? In what ways do CARD
Act provisions encourage or discourage innovation? In what ways do
innovations increase or decrease the impact of certain CARD Act
provisions, or change the nature of those impacts?
Dated: December 21, 2018.
Kathleen Kraninger,
Director, Bureau of Consumer Financial Protection.
[FR Doc. 2019-00487 Filed 1-30-19; 8:45 am]
BILLING CODE 4810-AM-P